The contagion effect of public debt on monetary policy: the brazilian experience

Fernando Barbosa

No 591, FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE) from EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil)

Abstract: This paper attempts to explain why the Brazilian inter-bank interest rate is so high compared with rates practiced by other emerging economies. The interplay between the markets for bank reserves and government securities feeds into the inter-bank rate the risk premium of the Brazilian public debt.

Date: 2005-06-10
New Economics Papers: this item is included in nep-cba, nep-mac, nep-mon and nep-pbe
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Citations: View citations in EconPapers (9)

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Persistent link: https://EconPapers.repec.org/RePEc:fgv:epgewp:591

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